World Bank Not Changing Stance on Alternative Energy Financing

World Bank Not Changing Stance on Alternative Energy Financing

Irune Rengel
|
21 Abril, 2017, 02:31

Kim says it is not clear how fast automation will cut jobs.

Asked about the Trump administration's skepticism about climate change at a news conference, Kim said the World Bank would continue to work with governments and the private sector to boost financing for alternative energy, especially in China, India, Indonesia, the Philippines, Pakistan and Vietnam.

"That's what we're seeing all over the world", he said. "So now solar is quite competitive with coal", Kim told reporters. "I mean the Green Climate Fund is still right around 7.5 billion after two or three years".

While the USA appears poised to roll back federal carbon emissions regulations, Kim highlighted efforts the bank is involved with in six other countries that contribute significant coal-based carbon to the atmosphere - China, India, the Philippines, Indonesia, Pakistan and Vietnam. "The bottom line is this, that the science of climate change didn't change with any particular election".

According to Kim, the World Bank is cooperating well with Chinese government and China-initiated Asian Infrastructure Investment Bank (AIIB) on development. "We'll be signing another memorandum of understanding during these meetings", Kim reported. "I'm told that storage technology is getting better very quickly, and that within a few years, we may have some major transformations in the ability to store energy from intermittent sources".

Kim also noted that the Chinese are "very much in agreement" with the World Bank's plans to use its resources to crowd in more private sector capital to development projects.

Spencer Cox told the WSJ that officials are preparing for a special election in Chaffetz's 3rd Congressional District. Chaffetz ended his Facebook post supporting Evans' claim that he believes the third district will remain Republican.

Investors may be focusing on current ROIC (Return on Invested Capital) data for Anadarko Petroleum Corporation (NYSE:APC). The New York-based Community Bancshares Na has invested 0.01% in Occidental Petroleum Corporation (NYSE:OXY).

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He said in a speech Thursday that the old rules drawn up by political and economic elites no longer apply. He made clear Labour's manifesto would be "fully costed and will be all accounted for and paid for".

The new forum for trade talks was launched by Trump and Abe during the Japanese leader's visit to the United States in February. The trip so far has been dominated by USA and allies' concerns about North Korea's nuclear and missile development efforts.

Britain's Prime Minister Theresa May speaks to the media outside 10 Downing Street, in central London, Britain April 18, 2017 . Jeremy Corbyn welcomed the poll but accused Mrs May of changing her mind and breaking promises on a range of issues.

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